You have probably all seen details of welcome bonuses available to new players at online casinos. What’s the catch?
The object of a welcome bonus is to attract new players to sign up. Some online casinos offer hundreds of dollars in welcome bonuses in various formats.
The most popular offer is matched bonus to a limit. If you deposit, for example $300 the casino will add $300 to you account when you sign up. Effectively you are being given $300 extra, for free, to play in the casino.
Other casino bonuses will be staged so you might get a matched deposit or a top up for several of your first deposits. This is all free money.
A further enticement sometimes is to offer free spins on slot machines. These bonus offers can be limited to certain slot machines where the payout rate is not so good, it may be 2 or 3% less than the norm of around 97%. For the average player, that does no make too much difference but to a regular gambler it all adds up.
Welcome bonus offers are standard items at online casinos, offering new players the opportunity to increase their bankroll with a matching deposit. This is often called, ‘free money’ to entice less-experienced players into signing up. But if that sounds too good to be true, then you are probably right.
So, you have signed up, made a first deposit and what happens next? You enjoy a bit of gaming of course.
If you win
Many players will have some fun and come back but some players just play through until the money has all gone. That is the players choice, of course.
If you have a winning streak you might be tempted to make a withdrawal. This is when most players find out that the welcome bonus offer comes with strings attached.
The terms and conditions, if you read them will tell you that you have to meet certain wagering requirements. This condition might require that you have to wager 20 or 30 times more than the bonus offer before you can make a withdrawal. Some casinos set the bonus wagering limit as high as 50%.
As long as you understand that you can have some fun and you might even play through to overcome the limit.
The attraction for a seasoned gambler is that they are being given free money to play with. That increases the chances of winning over a period. The return to player is no different so, it makes sense to take the welcome bonus offer.
If you lose
Hopefully you had a good time even if you lost.
You might come back later, the online casino will be hoping that you do. You will have spent some money and you might be tempted to have another try at winning. Most online casinos will offer loyalty bonuses to regular players to keep them interested.
Again for the seasoned player, those loyalty bonuses increase the chances of winning over time. The casino does like to see people win because it builds up player trust.
Best offers for a welcome bonus
We, at Online Casino Profiles review casinos and publish details of some of the best welcome bonus offers. You can see them here.
Read more Useful Information.
These casinos offer a 100% Welcome Bonus for an unlimited deposit with 35% play-through. They are both very good welcome bonuses offers it you want to take the best advantage offer: